Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Milking it: bosses’ pay

Posted by hkarner - 5. Januar 2018

Date: 04-01-2018
Source: The Economist
Today has been dubbed “Fat Cat Thursday”, at least by those critical of the bumper salaries Britain’s business chiefs enjoy. According to the High Pay Centre, a think-tank, this is the date by which bosses at FTSE 100 companies will have already earned more in the new year than the typical full-time worker can expect in the entirety of 2018.

The HPC calculates that the executives’ median pay was £3.45m ($4.66m) in 2016 (the latest available data); that of an average worker in 2017 just £28,758. Fat Cat day has caught a populist mood in austere times.

Scandals at businesses like BHS, a retailer whose boss pocketed millions in 2016 while its pension pot dwindled, have not helped. Under public pressure, in that year corporate pay actually fell. Politicians have responded too. Theresa May’s government is expected soon to force listed companies to publish the ratios between the highest and lowest earners. Expect the fattest cats to diet.

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